Sheridan Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2015 and 2016 follow Sheridan Medical Comparative Balance Sheet As of December 31 2016 2015 Assets Current assets Cash Accounts receivable, net Inventory Other current assets $417,450 776,450 681,000 247,050 2,121,950 8,440,230 $11,327,420 $10,562,180 $410,000 1,003,000 769,000 387,000 2,569,000 8,758,420 Total current assets Property, plant, & equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities Long-term debt $3,193,000 $2,846,000 3,892,700 6,738,700 59,000 103,900 3,660,580 3,823,480 3,747,000 6,940,000 56,000 143,000 4,188,420 4,387,420 Total liabilities Preferred stock, $5 par value ommon stock, $0.25 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $11,327,420 $10,562,180 Sheridan Medical Comparative Income Statement and Statement of Retained Earnings For the Year 2016 2015 Sales revenue (a on account) Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income Dividends paid $10,177,300 $9,614,000 5,298,700 4,315,300 2,634,200 1,681,100 308,700 1,372,400 411,720 $960,680 5,613,250 4,564,050 2,840,250 1,723,800 308,600 1,415,200 424,560 $990,640 Preferred dividends Common dividends Total dividends paid Net income retained 29,500 413,000 442,500 518,180 3,142,400 $4,188,420 $3,660,580 29,450 433,350 462,800 527,840 3,660,580 Retained earnings, beginning of year Retained earnings, end of year Calculate the following leverage ratios for 2016, (Round all answers to 2 decimal places, eg. 2.55% or 2.55.) a. Debt ratio b. Debt-to-equity ratio c. Times interest earned ratio times